If your consulting business is run out of your home, you cannot claim all of the rent. These home office costs go in home office expenses and only a portion of the total rent can be claimed, usually based on square footage. You will need to do a spreadsheet to calculate the rent for each space and book in an average of rent and square footage to allow the calculation.
If your consulting business is run out of your home, you cannot claim all of the rent. These home office costs go in home office expenses and only a portion of the total rent can be claimed, usually based on square footage. You will need to do a spreadsheet to calculate the rent for each space and book in an average of rent and square footage to allow the calculation.
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